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September 15, 2008

Light Crude trading below $92 per barrel

Light Crude has fallen below $92. It was at $91.90 at 11:36 a.m. Singapore time on the New York Mercantile Exchange.




The plunge in oil, cotton and copper led to the Reuters/Jefferies CRB Index of 19 commodities erasing its gains for the year. The CRB index fell 3.3 percent to 348.26 yesterday, down 2.9 percent for the year.

Gold declined as some investors sold the precious metal to raise cash after U.S. stocks tumbled.

Gold for immediate delivery fell 1 percent to $778.63 an ounce at 9:49 a.m. in Singapore after earlier rising to $788.10 an ounce, the highest in a week. Silver for immediate delivery fell 1.8 percent to $10.93 an ounce.

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